# Argentina to sell dollars in parallel FX market to shore up peso | Buenos Aires Times

> Argentina's central bank will sell US dollars in parallel currency markets from Monday to shore up the peso, whose unofficial rate has weakened over 30% this year. Economy Minister Luis Caputo described the move as a deepening of the monetary framework. The official rate is 919 per dollar, while a parallel rate closed at 1,405.

- Date: 2024-07-14 · published 2024-07-14T12:00:00.000Z
- Category: policy · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/29584-argentina-to-sell-dollars-in-parallel-fx-market-to-shore-up-peso-buenos-aires
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

The move is aimed at narrowing the gap between official and parallel FX rates, which affects Argentine exporter margins for soymeal and corn. Global feed price impact is modest.

## Read by commodity

- USDARS: bearish ▼

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/argentina-to-sell-dollars-in-parallel-fx-market-caputo-says.phtml

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.